This invention relates generally to an ink ribbon winding and reversing device for use in a printer, and particularly to an ink ribbon winding and reversing assembly suitable for use with an ink ribbon cassette having two ink ribbon spools rotatably mounted therein. In conventional printers having ink ribbon winding assemblies, including printers accepting ink ribbon cassettes, it is difficult to insert an ink ribbon spool or ink ribbon cassette in a single motion. In conventional ink ribbon printers accepting ink ribbon cassettes, it is often difficult to attach the ink ribbon cassette to the printer properly. During insertion of the cassette the operator often must move several levers and always faces the possibility of improper insertion and handling of the ink ribbon. When the ink ribbon is handled, the operators often get ink on their hands or may dammage the mechanism. Accordingly, it is desirable to provide an ink ribbon winding assembly which is trouble-free, suitable for use with an ink ribbon cassette and which permits an ink ribbon spool or ink ribbon cassette to be inserted with a single trouble-free movement.